PAARKE ECAR PHONE ET MAh 6.200 796F IN FEDERAL NEGARIT GAZETTE OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA, 18 Wa ont te WP YausNa DAM nM TG REET BETS oe | ONTERS QRoae Aernener ETHAN | doors anava se Febery 2023 CANA bone PHC MA enter Care 7 Tors Content APE kc AULRETHRTIE MdveR HEL CVE (PTTL) NPR Proclamation No. 1282/2023 National Payment System (Amendment) Proclamation. Pagel 4609 DR sssessseen aTEeD APE bec AURERORTIE PROCLAMATION NO.1282/2023, AdndR NEL CGY (ATL) NPE NATIONAL PAYMENT SYSTEM (AMENDMENT) PROCLAMATION AAnek PEL CH ane PRED AOE: AEUET ATOR V0 VLE Pde HEL MCE APE kere FETRRTLD VTA ANAL UT Noor -e AAAGH LS BRANT APHEVLL ETHAN 1 erie NIK UE (B) comer gertrtna rank ase 8. awe con LU APE PANEL HEL HCI (TTT) APE kre AT LERLMTTE ate aba Lae &, ove Pek Chee CO APR der BRIELLE RIRMUb AU AATIAAY inte price 107-00 WHEREAS, it has become necessary to amend the National Payment System. Proclamation No. 718/2011 in line with new developments, changes and innovations in the National Payment System; NOW, THEREFORE, in accordance with Article 55 (1) of the Constitution of the Federal Democratic Republic of Ethiopia, it is hereby proclaimed as follows: 1. Short Tite This Proclamation may be cited as the “National Payment System (Amendment) Proclamation No 1282/2023" 2. Amendment ‘The National Payment System Proclamation io. 718/201 is hereby amended as follows: yeh oun Pon Tn Hiegari 6. P-0 tax 80002,te BRUIT gga 926 nn tenes Be BEY RTE a Federal Noga Gazene No 9,3 Fabry, 2023. pse 14610 AT PAPH NEPR EWA NIR (os (Be (22) AF (@) PACH AetrAM, AAD WanrrR (Bs (EE) Ae (®) le “8 Pew H® Ok o-40-7P2 THAR IPH LA At: UIT Maman e orrt Nha, aah verherenr OL" of AAHEOLN eae PLLa, CLbovalt OF A Ce a Pegoonnn-a Amly dre FD TPREY Meeoateh P7227 INET OEE AA “eA Arne FONE ooranne our AL AF 029 wos We amtivrane — eeneata PCH as ve A Nowy rH ane, TNL LSA wb POET 0-90 Wet wu hee ene. cha As Mees ana aes WLP TRA CoReAAT PCH AG fu MAI CO bares aR NA ATE LGN TRI fa, Ps Pent rhe omenone rhee 04 er mh 40-1 ea Ahae gonenea us, Ane v4 ogy hee ic rene p ie) PTI aie fooey oS Cea O48 ovens | cara APEC: tant: eonwa's oer aa) Ack hewn e. ARP yan V/ Sub-Articles (4), (12), (18) and (20) of Article 2 of the Proclamation are deleted and replaced by the following new Sub Articles 4), (12), (18) and 20) “(4) “Central Security Depository for Government Securities” means a system: a) where government securities are immobilized or dematerialized and held in the government custody by, or registered in the name of government for depositors and dealing in respect of government securities are effected by means of entries in the securities accounts without the physical delivery of certificates; b) which permits or facilitates the registration, clearing and settlement of government, securities transactions or dealings in securities without the physical delivery of certificates, 12/Financial Institution” means a bank, a microfinance institution, an insurance company, a re-insurer, a Payment instrument issuer, a Payment system operator, a money twansfer institut n, a postal saving or such other similar institution as may be determined by the National Bank;TERETE 4keR Yer on de BG BED HILT Ta RES CHE ATSEC IT Meek IT PLT TPS oer ener tANND we” Lowry — Mr om Hee LLLATAAT: LLLFTAL LLM ame. Fooanet thhe L007 enon AT PLLOcCR ACH AS RLPT NING Nedoek IH 22k WLI LUI Fama AA TROP WIE rast “PnEe omsorne Are” IN AP fo PARR LD NC Mentha THA ATHENO NEL APE endo Ar A? THI: OF oer MAM RMLTE oes HEL NAL POLLO AO MT L200" Vr Pho Fag? Pratenh THIS: ACR Pong tans" B/ DAPH DAHER B WA-NEPR (BL) rar rena ABD WO ERT (BD: (Be (Hye (BEY (GE) (Bs (BE) (GH) AT (GD) Payea, Me Vr. NIE (BD) WAAR (GB) VS AITIBAY al “Bi Poe VIC THA “TAT DAAC ES TMA ANRC ATER ES oe AVGTOP YIC Ae THA CT OnAtRE whe ACD WEE eager NAO Adee ATH Shove WFO THA rat 187 “Payment System Operator” means the National Bank, a financial institution, or any other company licensed or authorized by the National Bank to establish and operate a payment system including routing, matching, clearing, netting, settlement of and payment instructions or~—-govemmment securities; 20/ “Payment Instrument” means any instrument, whether tangible ot intangible which is issued against the receipt Ethiopian Birr, that enables a person of fund equivalent in to obtain money, goods o¢ services ‘or 10 otherwise make payments which include electronic money and cards” ‘Y The following new Sub-Antcles (29), (30), 1), G2), G3), G4), (35), 36) and 37) are added following Sub-Article (28) of Article 2 of the Proclamation and the existing Sub-Article (29) is re-numbered as Sub-Article (38) “29/ "Foreign Currency" means any currency other than Ethiopian legal tender which is legal tender in any country outside Ethiopia as to which the National Bank has declared to be acceptable for payment in Ethiopia;1% INURE ken toch um tne Bone EA ALTE Or Federal Negri Gare No.9, Faby, 2023 pe 4612 GRAIL IAT MAAC E PFI AT eainao- ehhoe? ne Avs AAPL hI cower Prong PF RHE Ook ARATE E one Us tore a8) “AAD rer THN 1A eerree0 ARAN TELH LP MAA CHES LILLE COMES aor AkANVeLn 1% eAher DAAPAL AC 26 ALA Avy coat fendc: Nae. aa mat ahee tener sams chee ERAS BUY AT OR Te THI mor PUTA THA AAA 4amt rarcn.o- wee aca, BR) POP VIC WI" MT CRACK! WI LAUT Mar pat DE PEA IAA OAACHL CFI HT earns 4 ren ue ATER L aD cower PraonnGs Po Ra eb MATES one Pr NeAhe NAT CHEE omeorne MS rom, wee AhEE HCH ATEPC kETC AC LA FTE “WE yan CAR GR) HEL odo! MR hore” “IAT NAdhek A CNEL odo" AYE APLON LIS Chima hare LP Newry AAhAyT ean SCE OL LUIS Crdma- AK ALE LLG ART ore 307 “Company” means a share company as defined under the Commercial Code of Ethiopia and registered under the laws of, and having its head office in Ethiopia; 31/“Electronic Money” means monetary value as represented by a claim on its issuer, that is electronically stored in a paymént instrument or electronic equipmeit, against receipt of fund equivalent in Ethiopian accepted as means of payment by persons other than the issuer and can issued Bir, be redeemed in cash; 32/ “Foreign National” means a person who is not an Ethiopian national; 33/“Subsidiary” means a business as defined under the Code organization Commercial of Ethiopia controlled by a telecom operator, a payment payment operator and registered under the laws of, and having its head office in Ethiopia; instrument issuer or a system 34/ “Payment Instrument Issuer” means company or a government owned ‘enterprise licensed by the National Bank or a bank or a microfinance institution authorized by the National Bank to issue payment instruments;atere * Ae 26% UM ene BC BEAT ALLE At Federal Negri Gazete No 9,3 Febrny, 2023 pie asi il “RO WT hdnet Ah AAA PLFA AIM FPL ATE Aranre ANGE weReL AY ramrt of hee aCe ATSECHE Pee NCR Aemnerdrte Mek AF Amer erAs>Oe wed yas GE “hn rooF% har hes” “14 Parca, VIC WAT AVIC ahr AATATT AF re Damn Noor CLEA HEL ras Nom, Hae THEA MTNA PhLTIN TRE Ce PT PeAPh) etRom anon, AA AHA epee NA Yas” F/ PAPH ATER B FON AHR) LEA te au Ne (A): PACH MerbrAm A&A 2A “be. (A) cbthekas “(A) PowTIA MR omFA-FPL VOHAL 1H ae B PNT AGPR GON NIK (2B) 2A be W) AT (20) POCHO — ee, AeA BRA ches (0) AG (oo) AEREPA: “V) Ant APE Be wLE fj LUIS Camden Lahee M09 RretCH AT I AE! o.278 MS homens 2) AVAIL PH ANGEL OOLRLL AS homPts whee HCH ar. 1 Phe MCE come AEE Amrmts ACH CAFOs TEN NTA ET T 357 “Authorization” means a process by which the National Bank approves the application of a financial institution, which is already licensed by the National Bank to provide financial services, to become a payment instrument issuer or a payment system operator; 36/ “Investment Protection Fee” means ‘an amount paid to the government by invest foreign nationals who in businesses that are reserved to domestic investors only; 37/ “Outsourcing” means a process by which a financial institution hires an external body to perform its own internal task(s);” 3/. Paragraphs (b) Sub-Article (1) of Article 4 of the Proclamation is deleted and replaced by the following new paragraphs (b); depository ‘government securities;” 4/ Paragraphs (a) and (d) of Sub-Article (2) of Article 4 of the Proclamation is deleted “bi central security for and replaced by the following new Paragraphs (a) and (4) “a) license or authorize: I. payment system operator; and TL apayment instrument issuer,” 4) prescribe to participants, payment instrument issuers and operators by Directive on; 1. investments in relation to building system infrastructure and system interoperability;Tamer BI PNPR REPRE boc Alon 20% mun ne BG REO ATE 9 PUA TO? hvroOy I. oan, an2.260% UB: I aenhat NAIA PenLAnGnt? Nees Vv. OnAhrenh Al ote eusch ern Megs ARATE At ATF ARP IML AT hoa Ag HAA AADTELH omaee LT} ere THA om, 3 meey Newone.e ava's::" aenram, AAD Neer E brn: “B00 £28 ewes AG haha B DANh?eR AIH NAC AA Tog bo NA LIL WLP LU ALTE Phee gore dr hac, wee ehee CH RTeTC oor ALTAR: 8 PAAtRE FA MAME LCE aALEr PHC OA KE ke RRERTE ALLNGo —eLFIN DIAM AMC MY APE cower DAAPEE hee AIH LPL rvrses athe eae AeLEhLA Fo he, RETEST hera Marie ne oot nana: Federal Ngai Grate No. 9,8 Feb, 2028 ...9468 68 H. cost sharing; MI charges forthe service they provide; IV. maximum limits on electronic account balance, transaction and cash withdrawal at agent. and electronic equipment.” 5) Anticle 5 of the Proclamation is deleted and replaced by the following new Article 5, 1/ No person except the National Bank may be a payment system operator or issuer of payment instrument unless such person is licensed or authorized by the National Bank. 2 The Ethiopian Postal Service Enterprise, in its financial services activities as regulated by Council of Ministers Regulation No. 165/2009, shall be subject to the duty of obtaining an authorization and to any oversight requirements imposed by the National Bank under this Proclamation.TRATES «4A Yeh oun Ane BTC RET LTE a Fede Neprt Gazete No 9,3" Fb 2023 oo 9H 1615 FNAL IM OLDE POR LIL HATT NAPEC ITFOP chee “Cor AVEC OLP CNEL LOL OY rowan: (W) AAD HCO? Ad a2 IPA OLP naa ehee omens ane rom: (a) haa thes cot KT|etC 2c OPIS OL PAA do rhee PCH MALATE och (hh) NembaPAr Ws MAA os: PhEL PCP ATER pds oven WLP NALA PLLA ITT OTP Serb APP wLP wT bP ORF Neds NCH AL SEINE hor 127 (m)Anaers mad om oer a a phier WAVY NabeC WEAAy obit (#) Romoona® Raek VIA OL (2) thes coer nehyenry POI ay COPE! ALTAR: HW Nbrek A AIS ehEE HCH ATEtCH ead hhFor wer PEL cweRLe Mk hora Mk h@mt eater VIP Ore Axue AhAA Laat Are hee MCI wee chee ERAS NGL Mek HEL PC ANMUT I eure PANGT AT TOA WE hist of 37 Without the prior written approval of the National Bank, no payment system operator or payment instrument issuer may: (@) introduce new system or issue new payment instrument; (b) merge with or take over a system of another operator; (© enter into any arrangement or agreement for the sale or disposal, by amalgamation or otherwise, of its business, or effect major changes in its line of business; (@ redeem its own shares or effect a reduction of its capital other than through reduction due to operating losses; (©) amend its memorandum of association; or (alter the name under which it is authorized to operate a system. 4) The National Bank may prohibit in writing, payment system operator or payment instrument issuer from operating any system ot issuing ‘payment instrument where: a) the system or payment instrument is detrimental to the reliable, safe, efficient and smooth operation of the national payment system; or7% TAUNTE —a.tee took 2mm ane De BE 4 RIE Oe Fede) Nepit Gaze No.9, Febery, 2088 page 4616 (habia eaany Te ATM AeA UT At B/ Phee Oe hom, we chee “CH RPGC NOP am AMAT Lor NOTA Kcr erry THA LP ANA HIE Ahowner VPEAY AG HNC AAA AehahA AF AewbeC eure ae erhac LACM AL HW PNPH NOR FH NPR FE bethkas Och fon. AG oot avunrna, recy naa owoanF BNE eae MS how ofr PAEL MCU ATETC BPR ATTTE OOANF Adee Ah eA Aan: Han oer Ants eer TP RHEL eR! OS AMAA LUIS ATT VEMANF Mdee® ATH VLA AAD: EI NReTIN ARE AG NowrAN aA brew CRT or ea ere ewaE PNEL COLRLE MS orca, OLP CHEE ATSC 298 Vor héd7 ANY: 9447 AF PoRerAIA -MeoA ATE oreo nana PCy 9) Abe Oh Mera DDE ALA RENT VE Novae? dons LAA: b) the prohibition is otherwise in the interest of the public. 5/ A payment instrument issuer or payment system operator shall always apply on Prevention and Suppression of Money Laundering and Financing of Terrorism legislations of the country.” 6/Article 6 of the Proclamation is deleted and replaced by the following new Article 6, © 6 Auplicati ‘ coat V/ Application for license 10 be a payment payment system operator shall be submitted to the National Bank. instrument issuer or 2/ A bank or a microfinance institution shall application authorization to the National Bank to issue payment instruments. submit for 3/ A business organization other than financial institution and govemment owned enterprise intending to be licensed as a payment instrument issuer or a payment system operator shall establish a subsidiary company exclusively for the purpose. 4/ The National Bank may prescribe by 2 Directive conditions in relation to establishment of a subsidiary company.“LET Are 126% um ne Be BEA ELLE 9 WRAL OS horeny® OL AheEL PCH RTEACTE pre WCE NIA Ponsbe AR PLLOTETE PHC NA KI APda ema: HAMEL meKLL OS hoch AT ANTE PCH KVL omanF eerercn powant — Adee 7H reno Wraard erhen PRAT AAD emavee aera YH tor vic wrt nee means Oe horas O27" MNES HCH KTETCrE Ag ICE AN, LFA oe ahTE eR OS homrt oes nee PCI RTGACHY BIR CoLUe. -MbEA ALRAoe WFAA: B/Pae VIG MAE aA. Now-te Mane VIC WAT AANALT Che AAC OL CELT Ahee omenene O48 oer anes co ATeC nce PLAT KOLLAM ALIA ov-te Mood. Mower 99d CHEN HUY 40-2 doen. byes WML ADR FOd-AEPR (8) CdINRO- ASCP ALA Nowe VIE WAT AANA PEM AALKLL SCE ANGE ovd.nens Os hoa ofr MhEe HCH RTGECHE pre UCR RRA Ph La4 ATIA The® Ah NL LOND ome e come OSCR: No UIC wrt PA fla aPAA SCT Moot VAR Note PMS Erbe hy yore Federal Neprt Gazete No 9,3" Fbray, 2023 ....gnge 14617 Bl Nora ALA CEL CRY MTL 37 A government owned enterprise shall have a specific Regulation issued by the Council of Ministers that allows the enterprise to engage in a payment instrument issuer or a payment system operator business. 6/An applicant for payment and payment fulfill instrument issuer system operator shall minimum paid up capital as may be prescribed by the National Bank Directive. 7/ Foreign nationals may be allowed to engage in a payment instrument issuer or a payment system operator business; or establish a subsidiary which shall be licensed as a payment instrument payment system operator. issuer or 8/ Foreign Nationals and Ethiopian organizations fully owned by foreign nationals shall engage in a payment instrument issuer and/or payment system operator business through raising capital fully paid in foreign currency. Notwithstanding Sub-Artcle (8) of this Article, Ethiopian organizations 9) partially owned by foreign nationals, shall, percentage according 10 holding by foreign nationals as may be prescribed by the National Bank Directive, i in a payment instrument issuer or payment system operator business aggregate est in an acceptable foreign currency.TREES xan 19eh pum vc BC REET LTE a Federal Neguit Gazene No 9,5 Febrasy. 2023... 9886 1618 TT Nek A %-h Now OL Med Noe YI WPF Chen PhEE oenene MS hom, OLF CNEL HCH NTPC ews Nas VIC WE ANT emEN rows Na dA dar ewrenies NUT ONG NAGE AT APTA ooh VTE UL Neweee wns Bl Rod BPR OL LUI MTT PLPC AOAKE Mhe-L I coaree PeL@iior NEL oHd.59 HAN: MY APR TONER (718) e-bRITIM, Atal VE fan, VIC WIE aneEe ERLE MS hore, OL AhEe PC RVR pres OOP OA Mdek Ah ALLOND, cooné.e comes Pe PATIO haa heer Nae ye ALOnEA LAAs: Mhok Ah VeahFo rRLAVO OPLto AL wont NLT A@ hooané Abela UCC Mek ThhaFres ehee PCIE NTNGO ODO APA PHCHE cosa aareg Fo rasa IVAP TS NAVE AAA GEO? bycoahFo. 2c Aakeen PAL ANA Pamiinand MEA ALRED LAAs 107 The National Bank may prescribe by a relation to employment of expats, and Directive conditions in outsourcing relationship between parent company” and subsidiary of a payment instrument issuer or a payment system operator fully or partially owned by foreign nationals, Hy An authorization shall pay licensing applicant for license or ‘or authorization fee as may be prescribed by the National Bank Directive Notwithstanding Sub-Article (11) 12) of this Article a new foreign entrant into the payment instrument issuer or payment system operator business may be required to pay investment protection fee in foreign currency for joining protected sector as may be prescribed by the National Bank Directive. 13/ After the receipt of application, the National Bank may make such inquiries as it may consider necessary for the purpose of satisfying about the genuineness of the particulars fumished by the applicant, his ‘capacity to operate a system, the itself credentials of the participants of the applicant's system and any other related to the application. matterrameere hoe 126% Um ene BG REET ELIE Oe Ndeek TMH MY RFPS FOTO (TE Pramahtos YEA HLT MAA Peo SMOANF LAUAT CVE APE LITE AY Pom aeePTs Lahrn vrs ALPE iy berte CANCE LAPT IPA ONT NM AMCH LIL OLP LUGS LOMAS W) ches MCV KTats oS” ehELS LKLL MS hana, NTR Por CV wLF hewrar SRO HIME — béALYT (0) PotRo Cor eehah ReRe Pm ee FLEE (ch) PRUTE monger ty — age PIPL — CI — Penend-AFan CUCU PR (20) Pt INET FFA UC VES PTED are Aecrk TA POY EANENAY ULI (1) CHOWAN ELT ART: PUNTARC APS AG HPF (4) PAPE ver eoLNACNT AdzA7, vr anh Dror os hhes MS haem, 26 Laon TYRE Pen UCUC VEE Federal Nepait Gate No. 9.9 Feb. 2023 .AB6 a6t9 National Bank maj satisfied, after an inquiry under Sub-Article (13) of this Article, that the application is complete 14) The and conforms to the provisions of this Proclamation and Directives issued by the National Bank, issue a license or an authorization for operating the system under this Proclamation having regard to the following considerations (a) the need for the proposed system or the service proposed to be undertaken by the payment system operator of instrument issuer; (®) the technical standards or the design of the proposed system; payment (©) the terms and conditions of ‘operation of the proposed system, including any security procedure; (@ the manner in which transfers may be effected within the system, including specifications on clearing and netting procedures. © the experience of management financial status, and integrity of the applicant; (f) interests including the of consumers, terms and conditions governing theirre TALE gnea teh om ne Bn RE HY RTE a (0) ATMA ALE 700 Ae ANLTEO Heat AT (i) DNaAeR chee HCH oc AbeEH AMAT AAFOr “Ade LLLP IFO Ate Und Pts: TE) Ube® AH NAwAHE — PeRLAT OPT Abo heen o> Er MAD (284) $F ono MY AAD WON (8) comer MEA “oOANF Af ote enmas: THANE AI BIS WLI — Lord ATTA CL LaOAHA har HEN LAO ANA, OPE AG dF NNN, VLAPTY Nowone? ond LAAs" YORK WHER GK bree eonbrAr HAM AvPaE bADR GE doh GE barca, Aveet bAIeR Gil AO AE VM, BINGE Cd 218 4S hore wL7 ehee cH KTeECre GIL AAT ULE vy AA AGO” Ub CLL ITF O” ehee meee are honcn, oer chee RTeEC we Pert Telationship with payment system operator ot payment instrument issuer, when relevant; (8) the impact on monetary and credit policies; and (b) such other factors as it may consider relevant in relation to the national payment system, 15/ The National Bank shall respond to the application submitted in accordance with Sub-Article (1) of this Article within 60 (Sixty) days of submission of all required information. 16/ The National Bank may provide by Directive information to be submitted by the applicant and other conditions required for licensing or authorization." 7/ The new Articles 32 to 38 are added after Article 31 of the Proclamation; and the existing Anicles 32 0 39 of the Proclamation are renumbered as Articles 39 to 46. “32, Board of Directors and Executive Officers of the Payment Instrument Issuers or Payment System Operator 1/ Appointment of any Director, Chief Executive Officer of a payment payment system operator at the instrument issuer or time of licensing or at any other time may not be valid unless* rancarns ee No 9.5 Fey. 2005. pase 14601 ALGRTC OLP Phe Ade Tow Adee Ah OR de Haake APC MAIC Hae ALS ogss WH Ceci RP AeehTC we” Ped ANLAP MooAAe aL PEL eT! OS how, OL Rhee MCF RTePC ALGNEC UF ALIAIA ALTAR: Muy NER FOR-ATER (B) Praha AMM VT Mek Wh rmey hare wee rant MRF NIE ALGHTC Mrerag, Ub PhS mmeRene Are rarch, oer thee MCI NTeIC Aeanrc eure — A200 Newawe? Aan LFAA: Of. Chee oegeye A how dF Phe! CST ATEEC tI BI ANd ee AID MF ARK PAT ehee omenene Ars horcn, MICEERTY are Ne NLC! AT hende Nitte OSH OL VIC LAN GPAPE NPA OL AA TNT HIATT AAT NeheR ATH LIL hima, PET MR 9G Noor MARSA MX MAT LRA 8 Adve AA ANY ATER Wr WER (8) CPI MATE Acamt — mena — ena @-t UPL CONC AG PLO Wb Newemee dwn LAAs ‘written approval is granted by the National Bank. 2/A Director or Chief Executive Officer of a financial institution ray not, at the same time, serve as ‘a Director of a payment instrument issuer or a payment system operator. 3/ Notwithstanding Sub-Artcle (2) of this Article the National Bank may by a Directive, put conditions on the appointment of the Director of fn insurance company or a. re- insurer to be, at the same time, a Director for a payment instrument issuer or payment system operator 33. Activities of Payment Instrument Issucr__and Payment System Operator 1/ Up on a written approval of the National Bank, a instrument issuer may facilitate the payment provision of micro credit including overdraft, micro. saving, micro insurance, inward international remittance or any other reeled services digitally in partnership with a Financial Institution licensed by the National Bank 2/ The National Bank may provide by Directive minimum requirements and conditions to provide facilitation service stated under Sub-Article (1) of this Articlesitar hom WEF UM ee BE BEAT RLIE Ae G8. EMC Hie heeet aE. am heer ts ATTHTANES AINE RewheAs AMTHLE LNA -KMNE IDG NRL MLO cope OT RANE LAA: BI Met 8) LY AIR WOO-AIER (8) Ae PERI, Aba UT TOP do SME KDE HELPS amMaTAAG: AMINES Aewhed: — Aeon AG AMARC MLLOTA ERTAD WLP CMC PPC wnt LOMdee VI LVS ow agthage: &) eme NR LP nearans: NMEA hoohdas haa Ag heb 26 Areen cenit NaS Arman dheL 9h owovee ALon eta) taee_X ~ Ate reaqe rere 2 Agen. ey Mek VI LE NownPar AF OER HEL HCHE AL CEPGE DETA ANLLT NOT PAeR nee CHRD RATES OMT ANI WIC ares hrase AT GP-APEL Ea Aha 9G Nd AA BAA DIR ORR Pe he PML OK coreanenrr UES eb RAN: et No. 9,39 Fea, 2035. PA 14602 34, Cross — Border Payments V/ National Bank may enter into any ‘operational or system arrangement for the purpose of routing, clearing, settlement, participation and management of cross — border payments. 2/ Novwithstanding Sub ~ Article (1) of this Article no person shall center in to operational or system arrangement for the purpose of routing, clearing, settlement, participation and management of cross ~ border payments without the written authorization of the National Bank. 3/ The National Bank may ue a Directive on matters related to the operation, settlement, routing, clearing, and management of cross ~ border payments, participation 38. Cooperation and. ‘on with socal, Regional and International Regulatory Authi The National Bank may collaborate with relevant Domestic, Regional and Intemational regulatory bodies for information exchange and coordinated oversight of the payment system with the prime objective of ensuring the safety and efficiency of the national payment system. Such collaboration shall include protection of confidential information® PRLAERE oe 126% 20 ane BMC HEAD RIE ze ede Neguit Gate No.9,9" Fey, 2025 page teas Dh. WP-APE Chee HCH coCVETT | 36. Adopting Relevant International AAPDACRTS een Neca ment System Principles and e289 Standards Nhe Ah eAnek chee The National Bank may issue a PCV RUT ens Directive to adopt relevant AAMT AM anne international principles and standards CFE AUST LAFay gage on payment systems to enhance the APR OVEN ANIC RED safety, efficiency and reliability of the Novae? Pa ALC ARID national payment system, LTA %. £28 ooTen 37. Renewal of License WEIS erhenm, Chee mexors V/A licensed payment instrument issuer We hom ofr — chee ot @ payment system operator shall PCI ATeKC—APGomts renew its license in every year. EPH 1D ANOS: WY Anee ah Gre narien 21 The National Bank shall issue Directive PLAT PRO WE AwRy on conditions of renewal of the license Nowaee Lona: DE. PAR 202 P 38. Applicable Provisions CAPE NobR Hs Be i Ths 1B Provisions of Articles 7, 8, 9, 11, 18 and AG BE SI2LPE NIKI VEH 26 of the Proclamation shall, mutatis ANKE omenene Are roca, ‘mutandis, apply to a licensed or TEA, arse. authorized payment instrument issuer.” £, APH eovosny ap 3. Effective Date LU APE NG REA 196% oe JD This Proclamation shall enter into force up hour +9 Kee cos evga: cn the date of publication in the Federal Negarit Gazette AAD ANA TC REPT BIE 9.9° Done at Addis Ababa, On this 3" Day of i February, 2023, SAHLE-WORK ZEWDE PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIAACIAG OAT? OTFOLE LCE